Why is unemployment rate so high?

[btaliat]

Many factors are responsible. From the government who fail in creating employment. They don't establish companies. They only recruits in the existing companies. And also the nowadays youth don't see any reason working for 8 hours only to be paid a paltry sum at the end of the month.

 

[Irfanali]

Unemployment causes financial, social and psychological problems due to population growth, rapid technological change, lack of education or skills and rising prices. There are four main causes of unemployment.

 

[Praaizz]

The problem of unemployment is a global issue emanating in every country around the world. We have millions of graduating joining the labour force every year yet its not corresponding with the rate of job availability hence resulting in increased unemployment especially with the increasing dominance of online presence and better technology. One of the major way out I will suggest is to acquire more relevant skills. That will always give you the edge among the teeming population of graduate looking for job.

 

[redpogi16]

Many industries now use automated processes and robots to ensure increased output. Factors such as this only leads to increase in unemployment.
Also, lack of 'know-how' to survive this digital economy is also a source of unemployment . Many people do not purpose requisite knowledge and skills to survive the harsh economy.
Hence , the question now should be, 'how do we reduce the rate of unemployment'.

 

[Adventurer]

Why is unemployment rate so high?

In recent years, economics of work have changed. The New Economy is an economy based on abundance, not scarcity. Millions of jobs are up for grab on daily basis. Everything is now online. Everything has changed; many own an online business with no physical office, some work for multinational companies at the comfort of their homes as a content creator, copywriter, deal expert and many more. Pick your battle wisely.

It is important to Invest in your knowledge, and most importantly, You shouldn’t be at home unemployed.

What’s your view on unemployment rate and the way forward?

I guess the unemployment rate is high because of the falling economy, and it worsened due to the Corona virus epidemic many businesses shut down as a result of the lockdown.
I hope things will rise up soon as the vaccines are being administered.

 

[Thosynho]

Unemployment rate has been growing high for a while now in my country. And I believe the reason for this is the inability of the government to create enabling environment for investors to invest here and thrive. For instance, lack of security is what has chased many away from this climes

You made a valid point here I most say the rate of unemployment is on the increase because of government inability to create enabling environment for other jobs or businesses to thrive. There are only few government jobs.

 

[Akinwale701]

Why is unemployment rate so high?

In recent years, economics of work have changed. The New Economy is an economy based on abundance, not scarcity. Millions of jobs are up for grab on daily basis. Everything is now online. Everything has changed; many own an online business with no physical office, some work for multinational companies at the comfort of their homes as a content creator, copywriter, deal expert and many more. Pick your battle wisely.

It is important to Invest in your knowledge, and most importantly, You shouldn’t be at home unemployed.

What’s your view on unemployment rate and the way forward?

because a lot of youths prefer already established white collar jobs to hustling for their own. This is one of the main reasons why all of many of them keep remaining jobless and this is having an adverse effect on the employment rate of a country.

 

[WhiteHouse]

Corruption is the main cause of unemployment, and it's the fault of the government, government need to create a good environment where Business can strive, and startup can develop rapidly, they should cancel all forms of monopoly and create a open field for all.

 

[maventiger]

Unemployment is really a big issue emerging all over the world, especially in under developing countries, this issue is created because thousands of students are getting degrees while government is not implementing the new projects so that students can find out the jobs according to their talents and skills.

I will also portion the blame to faulty structures of most educational institutions in all developing countries. Having a degree doesn't necessarily translate to a fulfilling life. For youths to have a secured future they must be innovative. It is the high time entrepreneurship be introduced as a course across all levels of education system.

 

[Snazzy001]

people are voted into power because they made very good promises .when they eventually get there ,the promises don't matter anymore .people with Greed and selfishness occupy seats in government .only immediate family members matter to them .

 

[mcjerry]

The increase in unemployment rate is no one's fault. It is not the fault of the government also. The available job can not satisfy or be enough for the big number of people looking for job. So that I saw why we all need to know at least a profession. If we are not employed then we can stand on our own.

 

[Kiwi]

The higher unemployment causes consumer demand to drop even more, which is why it's cyclical. Most businesses were forced to either shutdown or downsize their staff. Bad government policies and corruption especially in Nigeria are also some of the reasons many young people are out of job. So we need to work on ourselves so as to reason on what to do to bring money for you

 

[Olubayo12]

Why is unemployment rate so high?

In recent years, economics of work have changed. The New Economy is an economy based on abundance, not scarcity. Millions of jobs are up for grab on daily basis. Everything is now online. Everything has changed; many own an online business with no physical office, some work for multinational companies at the comfort of their homes as a content creator, copywriter, deal expert and many more. Pick your battle wisely.

It is important to Invest in your knowledge, and most importantly, You shouldn’t be at home unemployed.

What’s your view on unemployment rate and the way forward?

There is no way it won't be like that. the youths of nowadays have all picked interest in looking for a white collar job whereas there are none. this is the time for everyone to try as much as possible to establish one or two things. being a job creator and not a job seeker goes a long way in helping one's country so much.

 

[Umerfarooq]

Low consumer demand leads to cyclical unemployment. Companies lose huge profits when there is a shortage of students. If they do not expect an increase in sales any time soon, they will dismiss the workers. Unemployment further reduces consumer demand, which is why it is cyclical

 

[Waqarhussain]

Low consumer demand leads to cyclical unemployment. Companies lose huge profits when there is a shortage of students. If they do not expect an increase in sales any time soon, they will dismiss the workers. Unemployment further reduces consumer demand, which is why it is cyclical.

 

[Seun4luv]

Low consumer demand creates cyclical unemployment. Companies lose too much profit when demand falls. If they don't expect sales to pick up anytime soon, they must lay off workers. The higher unemployment causes consumer demand to drop even more, which is why it's cyclical.

 

[Abdul Naveed]

Unemployment has negative psychological consequences related to the level of satisfaction with central occupational activity, including loss of identity and self-esteem, increased stress from family and social pressures, as well as the status of the labor market. Much of the future is uncertain.

 

[Marfav]

The country's unemployment rate is so high because the government does not create more opportunities for its citizens to work and then the citizens do not create more opportunities for themselves as well. Higher unemployment triggers even further declines in market demand.

 

[Hamza]

i think the reason is that we prefer degree base education rather than diploma in some field or learn a skill. if we cannot get a job and we have a skill then we can start our own business on a small level.

 

[eenya00]

There are various factors that cause unemployment to rise to an astronomical level, rise in population of a particular area can also contribute to the rise in unemployment level, also bad government policies and a vision less government can also cause unemployment to surge.